Forum Replies Created
Hi Gerry,
Two properties in Aus is something to be proud of. It's two more than most people.
I don't know much about vegas except that it is doing it tough economically. Does that mean someone shouldn't have a look? My answer would be "definitely not". What can it hurt to have a look and learn a bit about a place if you are going to be there anyway. If nothing else it's a great educational opportunity that many potential investors in Australia don't have access to.
I wish you good luck with your trip and would love to hear back from you when you return.
Regards,
Andrew
itsandrew
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Thanks Terry,
Andrew
itsandrew
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Hi Stuart,
Can you let us know a little about how and where you got your financing. Was it in the US?
Regards,
Andrew
itsandrew
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Hi guys,
When accessing equity in one property as deposit for other IP's is there a problem using just one LOC to fund the deposit for multiple IP's? Or should you take several loans, one for each new property?
Regards,
Andrew
itsandrew
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Hi Keiko,
There are some businesses that do this (for residential at least). eg. Landlords choice has a deal for $299 to make 1 listing on realestate.com.au and 1 on domain.com.au http://www.landlordschoice.com.au/services.aspx
Not sure if this is a good price or not but I hope it helps.
Andrew
itsandrew
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Hi,
My reading of FF's orifinal post is 2 x 950m2 blocks. So Christian's calcs should read 6:1900m2 (ie. 1:317)?
Sorry if I have misread something.
Regards,
Andrew
itsandrew
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Hi Alistair,
Thanks for that. Nigel's original post makes more sense if that's the case. But he really didnt do anything to 'tell us more' on his second post.
Nigel: Perhaps you can outline the model a little more clearly (an example would be helpful too). I'm sure I'm not the only one who would be interested to learn more.
Also, how much debt is left after you pay 30k and is there full ownership of the title.
Andrew
itsandrew
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Why limit yourself to one property. With that kind of deposit you could potentially purchase 3 or 4 really good properties (subject to serviceability). What do our brokers on this site think?
Andrew
itsandrew
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Hi Nigel,
I've found if something sounds too good to be true it usually is.
So:
if there is 100k+ profit in each property why aren't you flipping these for yourself instead of on selling them so cheaply. (btw what is your fee/commission in all of this)?
Why would someone discount a property >80%? Surely even a 50-60% discount would seriously undercut the foreclsoure market and get the vendors a quick sale with much better return.
How could selling for 30k fix their credit issue? Surely they would have to have moretgages quite a lot higher than 30k (ie. greater than the value of their property) for them to be in trouble?
Can you provide an address of a deal you've already done for 20-30k so we can check it out for ourselves? If you can show one that you've already flipped that would be even better.
Andrew
itsandrew
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Hi Aussie,
That sounds like a really cool idea. I'd certainly like to see what you come up with. Something that would be helpful as well would be to include a directory of reputable contacts on the ground over there (lawyers/attorneys, REA's, accountants, finance brokers, tradesmen). I am finding that I can get information to get me started on the learning process but knowing who to call to take it that next step is something I'm not confident with. I think building a team long distance is right up the top of the challenges I face.
Regards,
Andrew
itsandrew
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Hi Nigel,
Can you tell us more. It kind of sounds too good to be true.
Andrew
itsandrew
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Hi Frank,
Welcome to the site.
Apparently there are several different models on how NRAS works financially. Check out the post by euro73. https://www.propertyinvesting.com/forums/property-investing/help-needed/4334012?gocid=224224 Also, if you do a search of the forums you will findquite a few threads dedicated to the subject.
Hope this helps,
Andrew
itsandrew
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Here's a couple of threads that might be of interest.
https://www.propertyinvesting.com/forums/property-investing/help-needed/4333713
https://www.propertyinvesting.com/forums/property-investing/value-adding/4328993There are more posts on this topic if you search under "rooming house" and "boarding house". Hope this helps.
Andrew
itsandrew
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Hi NR,
I think it will be temporary as well. How long temproary is I'm not sure (short to medium term is my guess. 12-18-24 months?). Two things I believe is that 1) Australia is a solidly performing economy with interest rates significantly higher than the US. This will keep a tendency for the AUD to remain higher. 2) given Australia has a high level of export in primary produce and resources the government will want to keep the dollar lower (I think they would like it around .80). How much they can influence the market is a separate question. So predictions I have heard that the AUD might go to US1.20 is a bit premature.
I also think gold will be strong unbtil the USD recovers.
Andrew
itsandrew
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Hi BB,
You mention about some investors slipping through a few low ball offers. What sort of discount off the asking price are you talking about? Just after a bit of perspective.
Andrew
PS. I have been reading this thread from the beginning and it has been great to follow. Thanks for the awesome contribution to the site.
itsandrew
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Hi Frankston Fella,
Welcome to the forums!
I've only leased to individuals/families so can't tell you much about the logistics of a share house. However, a common theme on these forums about this type of investment is there is some difficulty getting insurance. If you search the site you should find more information about this.
Andrew
itsandrew
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Hi Cath,
Thanks for your post it was an interesting read. I appreciate it when people post about the challenges they faced with an investment. It sounds like you've kept a really healthy attitude through those times. Well done! I wish you luck in your future investments.
Andrew
itsandrew
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I wont have laser surgery due to the risks. I believe it's something like 1/10,000 have major complications. I have one dominant eye so if I had a problem with the surgery I would be stuffed. There are even documented cases of problems occuring with the non lasered eye! I dont know how that works but it must link up through the optical nerve somehow. Not for me but works for many people.
Andrew
except for laser eye surgery …
itsandrew
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Thanks for the that Richard. Very helpful.
Andrew
itsandrew
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Hi Richard,
I am in a similar position and may be turning my PPOR into a rental next year. How can spouses be of use? Is it by transferring into one name? I'm in Victoria where I think Stamp Duty is waived when property is transferred between spouses.
Andrew
itsandrew
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